Eurex Group and Bombay Stock Exchange announce technology alliance

Release date: 12 Mar 2013 | Eurex Group

Eurex Group and Bombay Stock Exchange announce technology alliance

Agreement brings BSE onto the Eurex Group’s technology platform

Eurex Group and the Bombay Stock Exchange (BSE) announced today that they have agreed to deepen their strategic partnership through a long-term technology alliance under which BSE will join the Eurex technology roadmap and deploy Deutsche Börse Group’s trading architecture in a first step. BSE aims to replace its derivatives market platform in the course of 2013 and plans to subsequently replace also its cash market platform. This agreement is an important step in further developing the strategic partnership between Eurex and BSE.

The new partnership in the technology sphere will allow BSE to quickly achieve the highest global standards for speed, reliability and order-handling capacity. It will bring to BSE state-of-the art levels of capacity and latency, already in place at the International Securities Exchange (ISE) since summer 2011 and in roll-out at Eurex Exchange. By aligning BSE, Eurex Exchange and ISE markets on a common trading infrastructure, IT costs for shared customers will be significantly reduced. This will also reduce technology development and installation efforts for Eurex and ISE members who wish to connect to BSE and vice versa as well as strengthen the case for cross-listing.

“We expect our technology alliance with Eurex will help BSE to compete more effectively in India, to help us attract more international participants into our marketplace and improve our market share in derivatives and equity trading,” said Ashish Chauhan, MD and CEO of BSE. “It will quickly put BSE into the Premier League of exchanges in terms of the performance of our matching engine and overall technology infrastructure.”

“This technology alliance strengthens our long-term partnership with BSE, and is another milestone in our Asian strategic roadmap, in which India obviously plays an important role. This technology alliance also contributes to growing our global liquidity network, based on common market infrastructure, for the benefit of both our partners and our members,” said Andreas Preuss, CEO of Eurex and Deputy CEO of Deutsche Börse AG.

About BSEBSE (formerly Bombay Stock Exchange Ltd.) - Established in 1875, 137 years ago, BSE Ltd. is Asia’s first Stock Exchange and one of India’s leading exchange groups and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder base which includes two leading global exchanges, Deutsche Börse and Singapore Exchange as strategic partners. BSE provides an efficient and transparent market for trading in equity, debt instruments, derivatives and mutual funds. It also has a platform for trading in equities of small-and-medium enterprises (SME). BSE also provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments. It operates one of the most respected capital market educational institutes in the country (the BSE Institute Ltd.). BSE also provides depository services through its Central Depository Services Ltd. (CDSL) arm and clearing services through its wholly-owned subsidiary Indian Clearing Corporation Ltd. (ICCL).

About Eurex GroupEurex Group turns ideas into opportunities – in trading and clearing, technology and risk management. Each of our six businesses is a leader and innovator in their own area. Eurex Exchange was the world’s first electronic cross-border exchange, now offering more than 1,900 products across a growing range of asset classes. Eurex Clearing is one of the leading central counterparties globally and a pioneer in risk management and post-trade technology, offering clearing services for derivatives, equities, bonds, secured funding & financing and energy transactions. In the U.S., the International Securities Exchange (ISE) transformed the options industry as the first all-electronic exchange and is now one of the world’s largest equity options exchanges. The European Energy Exchange (EEX) is Europe’s largest market for trading in energy and related commodities. Eurex Repo is the leading market for secured funding & financing in Europe. And Eurex Bonds is one of the most liquid markets for European bonds on an electronic trading platform. Partnering with other industry leaders, investors and regulators around the world, our people are shaping an environment where all participants can get more from the market.Eurex Group is owned by Deutsche Börse AG (Xetra: DB1).

The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.

We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.

An instant update of the Market Status requires an enabled up-to date Java™ version within the browser.